Business briefing, Thursday, Nov. 15

Mosaic Co., the largest U.S. fertilizer producer, may further reduce its output of potash amid lower-than-expected global demand for the crop nutrient, Chief Financial Officer Larry Stranghoener said.

"We will continue to match production with demand, which may require us to further lower our operating rates," Stranghoener told investors in New York Wednesday. Mosaic, based in Plymouth, cut its fiscal second-quarter forecast for potash and phosphate shipments as international buyers delayed purchases.

The company said it expects to ship 1.3 million to 1.4 million metric tons of potash in the quarter ending this month, down from an Oct. 2 forecast of 1.6 million to 1.9 million. Delays in signing contracts in China and India have spurred other buyers to postpone their purchases because they expect prices to decline, Mosaic said.

Mosaic also reduced its projection for phosphate shipments to 2.9 million to 3.1 million tons, from 3 million to 3.4 million previously.

The Minnesota Association of Realtors held its annual meeting recently, and the new officers, as well as several state award winners: 2013 president Jim Courmier of Coon Rapids; Realtor of the year: Deanna Wiener of Oakdale; Distinguished Service Award: Henry Brandis of St.